Archive

Posts Tagged ‘Daniel L. Urness’

Cavco Industries Woes Mount, Official, Unofficial Insights, Broader Manufactured Home Industry Impacts?

February 14th, 2019 Comments off

 

CavcoIndustriesWoesMountBroaderManufacturedHousingImpactBeyondTheirBrandsDailyBusinessNewsMHProNews600

Thank you. And before we begin, please be advised that comments made during this conference call by management will contain forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements of expectations or assumptions about Cavco’s financial and operational performance, revenues, earnings per share, cash flow or use, cost savings and operational efficiencies,” said Mark Fusler, Director of Financial Reporting for Cavco Industries (CVCO), per the Motley Fool’s official earnings call transcript.

 

Some factors that may affect the company’s results include, but are not limited to the risk of litigation or regulatory action arising from the subpoenas we received from the SEC, the risk of potential litigation or regulatory action arising from the SEC related internal investigation and its findings, potential reputational damage that Cavco may suffer as a result of matters under investigation, adverse industry condition, our involvement in vertically integrated lines of business, including manufactured housing, consumer finance, commercial finance and insurance, market forces and housing demand fluctuations, our business and operations being concentrated in certain geographical region, the loss of any of our executive officers, federal government shutdown, and extensive regulation affecting manufactured housing,” said Fusler for Cavco.

This conference call also contains time-sensitive information that is accurate only as of the date of this live broadcast Tuesday, February 5, 2019. Cavco undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the date of this conference call, except as required by law,” Fusler stated before turning the call over to Daniel L. Urness, President and Acting Chief Executive Officer of Cavco.

One could unpack those disclosures at great length and depth.

But what was not directly stated was that the number of shareholders plaintiffs’ attorneys doing “investigations” of Cavco and CVCO stock has mounted. It’s about a dozen known firms, to date – and while it is implied by Fusler – it is not bluntly stated.

Nor was it directly said that Cavco continues to take several preparatory moves, per legal sources, that make it clear that they expect a potentially protracted legal battle over the Stegmayer-SEC subpoena reported issue. That too may be construed as implied, but was not stated.

 

 

The Curious Case of Cavco and Joe Stegmayer?

There are communications that have been sent to MHProNews as news tips that have occurred since he stepped down as chairman and CEO of Cavco that some might interpret as Stegmayer exercising more leadership at Cavco than his current job title may imply.

The fact that Stegmayer is still Chairman of the Manufactured Housing Institute (MHI) Executive Committee ought to be of interest too.

 

CavcoIndustriesWikiPage2142019ManufacturedHousingIndustryDailyBusinessNewsMHProNews

Why? Several possible reasons, per sources that include, but may not by limited to the notion of “derivative liabilities.” We will explore that topic in an upcoming report.

But look again at this part of Fusler’s disclaimer statements: “...market forces and housing demand fluctuations, our business and operations being concentrated in certain geographical region, the loss of any of our executive officers, federal government shutdown, and extensive regulation affecting manufactured housing…”

Which of those plaintiffs attorneys investigating Cavco have begun to uncover the various concerns about alleged market rigging or related that has been raised by MHProNews, MHLivingNews, MHARR and others? Which shareholders investigators have connected the relevant dots between Cavco, Clayton, and MHI?

Or who at the SEC is doing so?

How many of those shareholders attorneys or the SEC have had staff pouring over reports published here or elsewhere about Stegmayer, Cavco, Clayton, and MHI?

Without revealing sources and methods, it is common-sense to think that such research is the underway. If so, doesn’t that mean that Cavco’s legal bills and exposure will mount?

 

SubmitNewsTipsCommentsLettersToEditorMHProNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

 

But the market’s investors are apparently beginning to regain a measure of confidence in Cavco. They may – correctly or incorrectly – think the worst is over for CVCO, and that the stock is now “a value” in the Warren Buffett sense of the term.

 

 

CavcoIndustries2142019ManufacturedHomeIndustryNewsDailyBusinessNewsMHProNEws

 

The storm brewing over Cavco could disrupt more than what some in MHVille, the investment community – or even in Phoenix, Knoxville, and Arlington –  may currently believe. MHProNews will do follow up reports that will continue to unpack what is occurring in the developing case.

 

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.  

 

Until the next report, note as a disclosure that MHProNews’ management holds no position in any tracked stock in our evening markets report, nor plans to open a position in the next few days.  Some prior reports can be accessed from the text/image box below.

 

What’s Coming at Cavco Industries (CVCO), Plus Manufactured Housing Industry Stock Updates

 

But we are keenly interested. As the #1 read, and pro-sustainable growth manufactured housing trade media, plus consulting, and professional services provider, we wonder aloud why certain steps have not yet occurred at MHI, their member companies, including Cavco, Clayton, 21st Mortgage and others haven’t already occurred?

Stay tuned, because more is almost guaranteed to be revealed. And if so, will it once more send shock waves though Cavco, or others?  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

“The Illusion of Motion Versus Real-World Challenges”

Independent National Manufactured Housing Post-Production Association Takes Major Step

President Trump Announces Nominee Dr. Mark Calabria to Become New Director of Federal Housing Finance Agency

MHARR Calls on HUD To Remove Zoning, Placement and Consumer Financing Barriers to Manufactured Homes

MHARR Exposes GSES’ Failure On Chattel Financing Before Congress

Independent National Manufactured Housing Post-Production Association Takes Major Step

“Washington Post Article Underscores Clear Need for An Independent Post-Production Association”

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector